Magellan Health Services Inc. (NASDAQ:MGLN)‘s stock had its “market perform” rating reaffirmed by stock analysts at Leerink Swann in a research report issued to clients and investors on Monday. They currently have a $78.00 price target on the stock, up from their prior price target of $60.00. Leerink Swann’s price objective points to a potential upside of 7.73% from the company’s current price.

Other research analysts have also recently issued reports about the company. Jefferies Group reaffirmed a “buy” rating and set a $78.00 price objective on shares of Magellan Health Services in a research report on Friday, November 18th. TheStreet downgraded Magellan Health Services from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Zacks Investment Research downgraded Magellan Health Services from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Finally, Barclays PLC boosted their target price on Magellan Health Services from $61.00 to $69.00 and gave the company an “underweight” rating in a report on Wednesday, November 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $75.00.

Shares of Magellan Health Services (NASDAQ:MGLN) opened at 72.40 on Monday. Magellan Health Services has a 12-month low of $49.50 and a 12-month high of $72.40. The company’s 50-day moving average price is $57.93 and its 200 day moving average price is $60.91. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 25.31 and a beta of 0.48.

Magellan Health Services (NASDAQ:MGLN) last released its quarterly earnings data on Wednesday, November 9th. The company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.72. The business earned $1.29 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Magellan Health Services had a return on equity of 7.96% and a net margin of 1.45%. The business’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, equities research analysts forecast that Magellan Health Services will post $3.11 EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC increased its stake in Magellan Health Services by 18.5% in the second quarter. Acrospire Investment Management LLC now owns 2,568 shares of the company’s stock valued at $169,000 after buying an additional 400 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Magellan Health Services by 275.0% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 3,000 shares of the company’s stock valued at $197,000 after buying an additional 2,200 shares in the last quarter. PineBridge Investments L.P. increased its stake in Magellan Health Services by 3.9% in the second quarter. PineBridge Investments L.P. now owns 3,122 shares of the company’s stock valued at $205,000 after buying an additional 116 shares in the last quarter. Teacher Retirement System of Texas increased its stake in Magellan Health Services by 9.4% in the second quarter. Teacher Retirement System of Texas now owns 3,364 shares of the company’s stock valued at $221,000 after buying an additional 288 shares in the last quarter. Finally, BlackRock Inc. increased its stake in Magellan Health Services by 134.8% in the second quarter. BlackRock Inc. now owns 3,473 shares of the company’s stock valued at $228,000 after buying an additional 1,994 shares in the last quarter. 93.40% of the stock is owned by hedge funds and other institutional investors.

Magellan Health Services Company Profile

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).